US energy chief says Saudi Arabia oil pipeline should be back within days
US energy chief says Saudi Arabia oil pipeline should be back within days Oil should be flowing through Saudi Arabia's vital East-West pipeline within days, US Energy Secretary Chris Wright told CNBC on Tuesday. The kingdom was forced to temporarily close the oil pipeline after attacks originated from Iraq.
U.S. Energy Secretary Chris Wright indicates that Saudi Arabia's crucial East-West oil pipeline will resume functioning within days, following an attack by Houthis. The pipeline, spanning 1,200 kilometers, has been closed temporarily due to the assault. Wright, speaking at a G20 energy meeting in Houston, stated that the pipeline will be operational in "measured days," though a detailed assessment is ongoing.
Saudi Arabia is collaborating with the U.S. military to transfer more oil from the Strait of Hormuz. The pipeline has been transporting 4 million to 5 million barrels daily, equivalent to 4% to 5% of global oil supply, mitigating the impact of the disruption on Saudi Arabia. Washington has not supported Saudi Arabia's request for direct military involvement, except for providing intelligence assistance.
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